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Single Family 4 2021 - Present

Huntsville, AL

Purchased at $195,000, rents at $1,400/m

Interesting stuff

This is my fifth real estate investment (fourth SFR). I still had the same goal of converting some of my business sale proceedings into real estate after completing Property 3, however after close to a month of making high offers that still wound up getting ignored, I decided to try making my first cash offer.

The logic behind making a cash offer was (1) sellers would view my offers as more competitive and (2) I was already preapproved for a loan and knew I wanted to purchase more properties, so by buying one property with cash I could at the same time buy another with the mortgage. At least in my experience, I haven’t been able to purchase two homes with 2 separate mortgages at the same time but using cash would be a solution to this.

This ended up working out with the purchase of this property in the last few days of December 2021, and a few days afterwards I was able to complete Property 6, my fifth single family rental. I then did a cash out finance to pull 75% cash out of this property which was completed late February 2022.